https://www.taxtmi.com/caselaws?id=325964 The Tribunal upheld the decision of the Ld CIT(A) in a case concerning the validity of reopening assessment for AY 2005-06. It was determined that the reassessment was based on a change of opinion, as the assessee had adequately disclosed all material facts during the original assessment. The Tribunal concluded that the reassessment proceedings were barred by limitation under the Income Tax Act, and thus, the appeal filed by the Revenue challenging the reopening of assessment was dismissed. en-us Fri, 12 Feb 2016 00:00:00 +0530 Sat, 02 Apr 2016 10:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325964 The Tribunal upheld the decision of the Ld CIT(A) in a case concerning the validity of reopening assessment for AY 2005-06. It was determined that the reassessment was based on a change of opinion, as the assessee had adequately disclosed all material facts during the original assessment. The Tribunal concluded that the reassessment proceedings were barred by limitation under the Income Tax Act, and thus, the appeal filed by the Revenue challenging the reopening of assessment was dismissed. Case-Laws Income Tax Fri, 12 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325964